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Xmet Inc. to Complete Geophysical Surveys on Duquesne-Ottoman Property

^{Published on 2010-12-02 05:50:38 - Market Wire}
 

TORONTO, Dec. 2 /CNW Telbec/ - Xmet Inc. (TSXV-XME) is pleased to report that both airborne and ground geophysics surveys will be completed on the Duquesne-Ottoman property during the month of December. A detailed helicopter airborne geophysics survey will be completed by Geophysics GPR International Inc of Longueuil, Quebec using a GPS controlled flight line spacing of 100 meters across the entire property. This survey will be flown in conjunction with a larger, more regional survey being flown by Osisko Mining Corporation (TSX-OSK) and its partner Clifton Star Resources (TSXV-CFO). The survey will utilize the advanced TDEM EMosquito II high resolution time domain transient electromagnetic system that will provide deep penetration. A Geometrics high resolution caesium magnetometer will also be utilized to provide detailed magnetic coverage. Final products will be generated by experienced geophysicists. This survey is meant to provide refined direct detection of gold-bearing conductive sulphide zones and will improve geological and structural interpretations of known gold deposits along the Porcupine-Destor Fault.

The airborne survey will be followed by a detailed ground geophysics survey targeting high grade gold mineralization associated with disseminated sulphides at Xmet's Nip Zone (see Xmet news release dated September 24, 2010). A hole to hole 3-D IP survey will be completed by Abitibi Geophysics of Val D'Or, targeting gold mineralization surrounding drill holes DQ-09-09 (5.25 g/t Au over 16.5m), DQ-10-17 (2.95 g/t Au over 17.0 meters), DQ-02-09 (9.00 g/t Au over 3.00m) and DQ10-18 (5.60 g/t Au over 3.00 m). The down-hole IP survey targets a radius of up to 400m around the mineralization as well as beyond the end of the hole. Future drill holes planned at the Nip zone will test all major IP targets generated by this survey.

About Xmet Inc

Xmet Inc., through its wholly-owned subsidiary Duquesne-Ottoman Mines Inc. ("Duquesne-Ottoman Mines"), carries out gold resource exploration and development. Pursuant to the terms of a mining option agreement between Duquesne-Ottoman Mines and Duparquet Assets Ltd., Duquesne-Ottoman Mines can earn an option to purchase 75% of the common shares in the capital of Duparquet Assets Ltd, which legally and beneficially owns 20 claims (commonly referred to as Duquesne West) and 40 claims (commonly referred to as Ottoman) covering an area of 928.6 hectares located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of Quebec.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Bill Yeomans, P.Geo., Xmet's V.P.  Exploration, is the designated Qualified Person responsible for this release.